In an address to the Nation, the Prime Minister informed: “In the retail space, auction houses – gatherings together in auction rooms – they can no longer continue. The principle is clear. Large gatherings brought together by particular organized events are things we are seeking to avoid.”

In response to the media release, REIQ CEO Antonia Mercorella says: ‘the Prime Minister’s announcement is not a total ban on real estate transactions from taking place as that would have a devastating impact on the Australian economy.’

As for public auctions, these can still occur via telephone bidding or by using one of the many Auction platforms available.

No other restrictions were announced for either property management or sales businesses, subject to other restrictions on physical distancing and hygiene.

Further Property Market Update: Rent Relief

Further changes to the property industry are yet to be determined. The Prime Minister announced that the National Cabinet will meet again this evening, with an announcement regarding the support measures for commercial and residential tenants struggle expected.

Cronin Miller Litigation will publish an update with respect to these changes once the Cabinet has reached a consensus.

In the meantime, Real Estate Agents and Agency Principals are urged to consider:

The team at Cronin Miller Litigation is committed to local business and supporting our community. In that regard, we are in a position to provide you with a free consultation with a view to supporting local business and Agents that are challenged at this time.

Please do not hesitate to contact us and we will arrange telephone or video-conferencing facilities to deliver that service to you.